shareholder/ collective action, page-2

Keep an eye on the court action by bcs to wind up asi. It could show unit holders a legal escape. BCS's counsel seems to be arguing that the total liability of a bcs share is extrinsic to the security and borne by the shareholder: Hence the claim that asi is insolvent. But if the judge rules that the liability is intrinsic to the security, and can only be transferred to the share holder registered on the instalment record dates, then the unit holders will have been shown a sound escape route by bcs's action.